The global automotive rubber hoses market to grow at a CAGR of 5.08% during the period 2017-2021.

Global Automotive Rubber Hoses Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.

One trend in the market is increased R&D into lightweight and durable automotive rubber hoses. OEMs of automotive parts are increasingly focusing on reducing the size and weight of automotive components to fit in downsized engines. Vehicle manufacturers are minimizing the weight of every automotive part for collectively arriving at a reduced vehicle weight.

According to the report, one driver in the market is rising sales of LPG and CNG vehicles to induce demand for specifically built automotive rubber hoses. Rising dissidence toward diesel vehicles due to their highly polluting nature and increasing stringency of emission regulations against vehicles operating on petroleum-based fuels are driving vehicle manufacturers to develop vehicles operating on alternative fuels, such as liquified petroleum gas (LPG) and compressed natural gas (CNG).

Further, the report states that one challenge in the market is fluctuation in prices of natural rubber. Fluctuating prices of rubber increase uncertainty of prices of rubber-based products, such as automotive rubber hoses. Uncertainty regarding prices of automotive components will cause vehicle manufacturers to move toward automotive hoses made from alternate components with stable pricing.

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